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Ahmed Business Ledger Transactions

The document outlines a series of financial transactions for 'Ahmed Business' during its first month of operation, including capital deposit, equipment purchases, cash withdrawals, and sales on credit. It requires the recording of these transactions in various ledger accounts such as Bank, Capital, Equipments, Debtor/Trade Receivable, Creditor/Trade Payable, Cash, and Motor Van. The transactions span from May 1 to May 31, 2015.

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Diaa Elsadek
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4 views3 pages

Ahmed Business Ledger Transactions

The document outlines a series of financial transactions for 'Ahmed Business' during its first month of operation, including capital deposit, equipment purchases, cash withdrawals, and sales on credit. It requires the recording of these transactions in various ledger accounts such as Bank, Capital, Equipments, Debtor/Trade Receivable, Creditor/Trade Payable, Cash, and Motor Van. The transactions span from May 1 to May 31, 2015.

Uploaded by

Diaa Elsadek
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

School: Teacher: Diaa

--------------------------------------------------------------------------------------------------------------------------------------- Elsadek

Student Name:
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

OL- Accounting: Ledger (T-Account)

Question – 1:
The following are the transactions occurred during the first month of operation in “Ahmed Business”:
 1 May, 2015 the owner of a business “Ahmed” deposits $100,000 in the business bank account as a start-
up capital
 3 May, 2015 “Ahmed Co.” purchased equipments of $2,000 on account from “Jana” to be used in the
business operations
 4 May, 2015 “Ahmed” withdraw $4,000 cash from the business bank account and placed it in the
business cash box (treasury)
 7 May, 2015 “Ahmed” bought a motor van of $18,000 paid by a cheque
 10 May, 2015 “Ahmed” sold some of the equipment for $500 on credit to “Adam”
 21 May, 2015 “Ahmed” returned some of the equipment of $200 to “Jana”
 28 May, 2015 “Ahmed” received a cheque of $300 from “Adam”
 30 May, 2015 “Ahmed” bought another motor van paying by cheque $22,000
 31 May, 2015 “Ahmed” issued a cheque of $100 to “Jana”
Required:
Record the above transactions in the ledger accounts of “Ahmed Business”
Answer
Dr. Bank
Cr.
Date Details $ Date Details $

Dr. Capital
Cr.
Date Details $ Date Details $
Diaa El-Sadek 0122 345 40 38 – 010 900 34 302 elsadekdiaa@[Link] page – 1
Dr. Equipments
Cr.
Date Details $ Date Details $

Dr Debtor/ Trade Receivable (Adam)


Cr.
Date Details $ Date Details $

Dr. Creditor/Trade Payable (Jana)


Cr.
Date Details $ Date Details $

Dr. Cash
Cr.
Date Details $ Date Details $

Dr. Motor Van


Cr.
Date Details $ Date Details $
Diaa El-Sadek 0122 345 40 38 – 010 900 34 302 elsadekdiaa@[Link] page – 2

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